![]() On Tuesday, Netflix said it expects to spend in the range of roughly $17 billion in 2024 on content.Ĭo-CEO Ted Sarandos said Tuesday the company hopes to avoid a writers' strike and talks continue with the Writers Guild of America. Netflix said it believes paid sharing will ensure increased revenue in the future as it looks to improve its service. The company said that as it rolls out its paid sharing initiatives, it expects near term engagement – which is measured by Nielsen for its ad-supported tier – to "likely shrink modestly." Still, the company believes it will bounce back as its seen in international regions. As a result, the company said, it is seeing more revenue.Ĭanada, which will likely serve as a template for the U.S., has seen its membership base grow due to the launch of paid sharing, and revenue growth has accelerated and "is growing faster than in the U.S." But, Netflix added, those password borrowers would later activate their own accounts ad add existing members as "extra member" accounts. In Latin America, the company said it saw cancellations after the news was announced, which affected near-term growth. Netflix said Tuesday it has been pleased with its push to mitigate password sharing. The company said it would ask users in those countries to set a "primary location" for their accounts, and allow users to establish up to two "sub accounts" for those who don't live in their home base for extra fees. In February, Netflix outlined password-sharing guidance in four countries: New Zealand, Canada, Portugal and Spain. Peters likened the paid sharing transition to that of increasing prices – subscribers initially balk and cancel, then slowly return and sign up for their own accounts. and the bulk of our countries when we think about it from a revenue perspective," said co-CEO Greg Peters on Tuesday's earnings call. "The launch in Q2 will be broad, including the U.S. Both the ad-supported option and crackdown on password sharing are meant to boost profits. That has affected its ability to invest in new content, Netflix has said. The company has said more than 100 million households share accounts, or about 43% of its global user base. Late last year, the company said it would begin rolling out measures to have people who have been borrowing other accounts create their own. ![]() ![]() Netflix's crackdown on password sharing has been top of mind for investors. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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